Convenience Store Decisions, August 2017

COVER STORY Lisa DellAlba pictured took over as CEO of Square One Markets after her father pictured passed away in 2009 Her father Gary DellAlba prepared Dell Alba and her sister Brenda DellAlba Rosado now chief financial officer for their future company roles by giving them the chance to make decisions learn from mistakes and form their own relationships within the business Robinson recommends that the in coming generation get involved in industry organizations where they can learn new skills and spread their wings beyond the family company The younger generation has two choices You can wait for somebody to ask you to take on more responsibility or you can push for it Robinson said Either way challenges can arise The older generation may still enjoy handing specific responsibilities or the younger generation may not be capable of handling the tasks SHARE SHARE ALIKE In families with multiple children or siblings whether all or some are in the business creating a fair system can be complicated One common problem is when one child is involved in operations and one owns a share but doesnt work in the business and concerns such as why is he getting a check if I do all the work can appear My philosophy is there are shareholders and managers said Robinson Those family members owning shares should expect returns as shareholders while presidents should be reasonably compensated as they would be if they were hired from outside the company he said Estate planning is another important consideration and is often easier than succession planning because an attorney can guide the process Succession planning is more complicated The younger generation may not be prepared to lead or the older generation may want to sell the company to an outside party who can pay more There is also a host of reasons the older generation may not want to let go Today Robinsons adult daughters hold key positions in the company Reilly Musser an active member of YEO is the vice president of marketing and merchandising and Erin Graziosi is vice president of retail supply trasportation Robinson has thought ahead to how he will someday handle the transition He believes the hardest transition is from the first to second generation as some first generation owners can be so consumed with creating a thriving business that they are not always focused on preparing the next generation Lisa DellAlba is the second generation to run her family business In 2009 she became president and CEO of Bethlehem Pa based Square One Markets after her father founder of the company Gary DellAlba passed away suddenly Her older sister Brenda DellAlba Rosado took on the role of chief financial officer CFO Growing up DellAlba didnt work in the family business She originally pursued a career as a dance therapist before joining the company in 2004 at the age of 24 DellAlba began by managing human resources and learning the operations end of the business Two years later Rosado who had previously worked for Morgan Stanley came on board DellAlba found joining a family company is not without challenges Long term company members may have preconceived notions about what the incoming generation will be like for example We had a few folks who were directly involved with our operations that didnt necessarily see the same future for themselves in the company said DellAlba So they moved on Two years into her tenure DellAlba took over the role of vice president of operations when the position came open FUTURE ENDEAVOR When a family member and head of the company passes away the family must make important business decisions in the middle of deep grief I remember the day after my father passed away I was at work because I was very concerned about the leadership of our company and making sure our team knew they still had jobs and that we were very much interested in 26 Convenience Store Decisions l August 2017 CStoreDecisions com

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